Rachel provides detail about the changes to tax on electric vehicles concerning two main areas; road tax and benefit in kind.
Tax (Personal)
Following the new Chancellor’s first Autumn Statement, Rob provides a summary of the announcements made before we delve into the detail.
Rob summarises what some are saying is the biggest U turn in British History, following some significant announcements of U turns in policy last week.
Rob explains more about the Government’s Tax-Free Childcare Accounts which provide a 25% subsidy towards the cost of childcare for which there continues to be a poor take up.
Kate explains how a freeze of the IHT nil rate band thresholds for paying the tax until 2026, coupled with soaring house prices, is drawing unsuspecting estates into the realm of Inheritance Tax (IHT).
The accounting software will need to record and report income and expenditure in the same categories currently used for self-assessment as outlined by Rachel.
Kate shares details of a new tax residence indicator tool which HM Revenue & Customs have created to help customers to determine their tax residence status.
Kate shares details about the government announcement yesterday which gives some welcomed news for divorcing couples from 6 April 2023 onwards.
Kate explains from a tax planning perspective what you need to be aware of as a married couple or civil partners who are separating.
Rachel explains the tax consequences of choosing a second hand electric car for your business.
Ensure that the correct tiered rate is being used and that type 1 and type 2 pension certificates are submitted each year where necessary explains Terry.
Kate explains the existing obligations for taxable trusts and the requirement for new non-tax paying trusts to register and update trust records on the TRS.
Now is the perfect time to review your investments to ensure they as tax efficient as possible so Kate gives her top investment planning tips.
Kate explains how now is the perfect time to review your tax position and ensure that you are maximising all available tax reliefs for the current tax year.
Kate explains the rules around gifting your assets in relation to IHT, CGT and trust planning.
HMRC is increasing its focus on tax investigations as it bounces back from Covid and compliance checks and charges for tax evasion are on the rise.
Rob provides an update about the recently announced delay to MTD for Income Tax.
Rob reminds us that pension contributions to approved pension funds continue to be a tax-free benefit provided the annual input limit is not breached.
With the school summer holiday just round the corner, Rob reminds parents of the tax-free childcare account which available is for children under 12.
Taxpayers were permitted to defer any VAT return payments due to COVID-19 – Rob explains about the deferral payment schemes.